GM invests in Momenta: A young Chinese company that develops self-driving technology


 

General Motors (GM) today announced it is investing $ 300 million in Momenta, a young Chinese self-driving technology company. This marks the first such move by GM in the world's largest automotive market.


Momenta is one of the few companies in China authorized to collect data for high-resolution maps, a key tool in self-driving technology. It has partnered with car manufacturers to develop production vehicles with self-driving and real-time data collection capabilities.


Momenta is also backed by SAIC Motor, GM's main Chinese partner, and Toyota Motor and Daimler AG.


Automakers and tech companies are investing billions of dollars in self-driving technology that is considered the future of the industry.

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